A trust:
A) is a fiduciary relationship in which one person holds both legal and equitable title to property which is the subject matter of the trust.
B) may take effect only during the lifetime of the person creating the trust.
C) may be created by such words as "I leave [certain property] to Swigert in full confidence and hope that Swigert will care for Adamson."
D) may not be created "to benefit and maintain Southside Park," since this purpose would be too vague to be enforceable.
C
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Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4Freight charge for merchandise purchased$51.00?December 7Delivery charge for shipping to customer$75.00?December 12Purchase of office supplies$40.00?December 18Donation to charitable organization$59.00? If, in addition to these receipts, the petty cash fund contains $262.75 of cash, the journal entry to reimburse the fund on December 31 will include:
A. A debit to Transportation-In of $91. B. A credit to Office Supplies of $75. C. A credit to Cash of $237.25. D. A credit to Cash Over and Short of $12.25. E. A debit to Petty Cash of $91.
Baker is single and earned $225,000 of salary as an employee in 2019. How much should his employer have withheld from his paycheck for FICA taxes? (Round your answer to the nearest whole dollar amount.)
A. $10,879 B. $11,727 C. $11,502 D. $17,213
Which of the following statements is a strategy decision, rather than an operational decision?
A. "We will increase the number of training sessions for new sales associates from two to three." B. "We will cut prices as needed to in order to protect our market share." C. "We will hire a merchandising specialist this month to help remodel our older stores." D. "We will place a special ad in the Sunday newspaper promoting our upcoming sale." E. "We will change the colors of our selection of shirts at the end of the season."
If the actual rate of return on an investment portfolio is constant from year to year, the standard deviation of that portfolio is zero
Indicate whether the statement is true or false.